Premier and Minister of Finance with responsibility for Tourism Honourable Andrew A. Fahie (R1) said talks are now in the arbitration stage.

“Acquiring just over 600-plus acres of land will allow the Government to pursue development initiatives that will enhance the economy,” Premier Fahie said during a live televised broadcast on Friday, April 16 2021.

“Additionally, this is a possible site to house our proposed drag racing stadium, which is a potential opportunity for sports tourism, and this will attract increased visitor and cargo traffic to the Territory.”

The ‘Hung Land’ currently belongs to Chinese national Raymond Hung, who had plans to erect a resort and golf course more than 25 years ago.

To this date; however, the land remains undeveloped.

Back in February 2020, Premier Fahie had told the House of Assembly that the BVI Airports Authority (BVIAA) had appointed a special committee to negotiate the reacquisition of the Hung lands.

Quorum Island (BVI) Limited, owned by Mr Hung, had received a non-belonger’s land holding licence in 1995 for five parcels of land on Beef Island. A total of 669 acres was then signed over to the company by then-Governor Peter Alfred Penfold for development purposes.

Premier and Minister of Finance with responsibility for Tourism, Honourable Andrew A. Fahie said talks regarding acquisition of the 'Hung lands' at Beef Island are now in the arbitration stage.

The proposed drag racing facility could be built at Beef Island.

‘Get ready to move!’

Meanwhile, Premier Fahie made a call to action for the Virgin Islands to get ready to move, “because our economy is going into overdrive,” and the opportunities for locals and residents, local and foreign investors over the next few weeks, months and years are immense.

“With all the work that has been done and with the strides that we have made in managing COVID-19, coupled with the optimism that is coming to light with the roll-out of vaccine programmes across the globe, as it relates to the resurgence of global trade, global travel and Tourism, it is now time to push our BVI economy into overdrive - and there is no turning back.”

He added: “The future in the Virgin Islands is for the prepared, and so, I once again urge all Virgin Islanders, Belongers, and residents to take note of the opportunities that are on the horizon and prepare yourselves so that you can participate and cash-in on these opportunities. We must remember that COVID-19 did not take away our much-sought pristine sailing waters and breathtaking sunsets and views. COVID-19 did not take away our beautiful beaches with white sand. COVID-19 did not take away our awe-inspiring coral reefs and magnificent dive sites. COVID-19 did not take away BVILOVE. Our main tourism products and attractions remain intact, and so does the demand for it.”